MARKET PULSE-Opexa, DR Horton, Virgin Media, AT Cross

February 05, 2013|Reuters

Feb 5 (Reuters) - Some U.S. stocks on the move on Tuesday:

WALL STREET REBOUNDS FROM WEAKNESS, DELL TO GO PRIVATE

Stocks rose in early morning trade as investors soughtbargains following the market's worst daily session sinceNovember and more companies reported results that were strongerthan expected. The Dow Jones industrial average was up83.88 points, or 0.60 percent, at 13,963.96. The Standard &Poor's 500 Index was up 9.16 points, or 0.61 percent, at1,504.87. The Nasdaq Composite Index was up 10.80points, or 0.35 percent, at 3,141.97.

** DELL INC, $13.39, up 0.9 pct (1043 ET)

Michael Dell will take the computer company he foundedprivate in a $24.4 billion deal that marks the biggest leveragedbuyout since the financial crisis. He and private equity firmSilver Lake are paying $13.65 per share in cash for the world'sNo. 3 computer maker.

** OPEXA THERAPEUTICS INC, $3.94, up 225 pct (1017ET)

The biopharmaceutical company entered into a licensingagreement with a unit of Merck KGaA to develop anexperimental multiple sclerosis drug for up to $225 million. Itwill receive an upfront payment of $5 million and Merck Seronowill pay an upfront license fee of $25 million to $15 millionfor worldwide development and commercial rights to Opexa's drugTcelna, excluding Japan. Opexa, which had a marketcapitalization of $8.7 million, said Tcelna is being tested inearly-stage and mid-stage studies.

HOMEBUILDERS

** D.R. HORTON INC, $23.16, up 1.3 pct (1049 ET)

** KB HOME, $18.54, down 0.02 pct (1049 ET)

** LENNAR CORP, $40.72, up 0.4 pct (1049 ET)

** PULTEGROUP INC, $19.79, up 0.6 pct (1049 ET)

** RYLAND GROUP INC, $37.83, down 0.6 pct (1049 ET)

** TOLL BROTHERS INC, $35.87, down 1.5 pct (1049 ET)

Barclays cut its rating on the U.S. homebuilding industry to"neutral" from "positive," BUT raised its rating on D.R. Hortonto "overweight" from "equal weight". It cut its rating on thestocks of KB Home and PulteGroup to "equal weight" from"overweight," Toll Brothers to "underweight" from "equal weight"and Ryland to "underweight" from "overweight." The brokerage cutits price target on KB Home to $20 from $21, PulteGroup to $21from $22, Ryland to $35 from $40 and Toll Brothers to $36 from$41. It raised its price target on Lennar to $44 from $43.

** BANK OF AMERICA CORP, $11.78, up 2.6 pct (1050ET)

Guggenheim raised its target price on the stock to $15 from$14.

** BP PLC , $44.16, up 1.26 pct (1109 ET)

The shrinking British oil company's quarterly profit fell,after it sold assets in preparation for what could be itsbiggest oil spill payout when the case comes to trial later thismonth. But it still beat expectations because of one-off taxesrelated to divestments and liability payments. Chief ExecutiveBob Dudley told analysts that the $4 billion upgrade at BP'sIndiana refinery was on target.

** J.P. MORGAN CHASE & CO, $48.31, up 1.3 pct (1051ET)

Guggenheim raised its target price on the stock to $61 from$55. The stock touched a year-high on Tuesdaymorning.

** LIBERTY GLOBAL INC, $66.85, down 3.7 pct (0947ET)

** VIRGIN MEDIA INC , $44.84, up 16 pct(0949 ET)

John Malone's Liberty Global has opened talks with Britain'sVirgin Media over a takeover that would increase the U.S. cablegroup's dominance in Europe and step up a challenge to mediamogul Rupert Murdoch.

** A.T. CROSS COMPANY, $12.15, up 10 pct (0957 ET)

Brokerage Roth Capital raised its rating on A.T. Cross'stock to "buy" from "neutral," according to theflyonthewall.com.The designer of personal and business accessories on Monday saidit is exploring strategic alternatives for its Cross AccessoryDivision, which offers writing instruments and related products.

** COMPUTER SCIENCES CORP, $45.82, up 9 pct (1010ET)

The U.S. technology services provider reported athird-quarter profit well ahead of analysts' expectations asrevenue from its business solutions and services unit jumped 29percent. The company also raised its full-year profit outlookrange by 20 cents per share to between $2.50 per share and $2.70per share, from continuing operations.

** BAIDU INC, $97.50, down 9 pct (0953 ET)

The largest search engine company in China reported itsslowest profit growth since 2009 as competition in the sectorheated up and more users switched to mobile search.

** RUDOLPH TECHNOLOGIES INC, $12.25, down 8.4 pct(0953 ET)

The company reported a fourth-quarter profit below analyst'sexpectations. It reported an adjusted profit of 17 cents pershare, below analysts' expectations of 19 cents per share,according to Thomson Reuters I/B/E/S.

** KCAP FINANCIAL INC, $12.27, down 8.1 pct (0953ET)

The company began a public offering of 4 million shares onMonday.

** ARCH COAL INC, $6.39, down 8 pct (0956 ET)

The second-largest coal miner in the United States byproduction, reported a quarterly loss as prices fell for bothsteel-making and power-generating coal.